Intech Investment Management LLC Has $2.05 Million Holdings in Franco-Nevada Corporation $FNV

Intech Investment Management LLC cut its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 73.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,864 shares of the basic materials company’s stock after selling 27,617 shares during the quarter. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $2,047,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Franco-Nevada in the third quarter valued at about $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada in the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares in the last quarter. Finally, Navalign LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at about $34,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 2.8%

Shares of NYSE:FNV opened at $229.31 on Thursday. The business’s 50 day moving average is $239.98 and its 200 day moving average is $235.11. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67. The stock has a market cap of $44.23 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.05 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s revenue was up 76.6% on a year-over-year basis. As a group, equities research analysts expect that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research note on Wednesday, May 20th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, HC Wainwright restated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.